UK stocks end week lower as fragile U.S.-Iran truce weighs; BoE flags risks (updated)

Tesco

24/04/2026 17:13

Updates after market close

April 24 (Reuters) - UK's main stock indexes recorded weekly losses as investors assessed tentative signs of renewed U.S.-Iran peace talks, while a Bank of England warning that global stocks could face pressure also weighed on sentiment.

The blue-chip FTSE 100 index .FTSE ended 0.8% lower to 10,379.08 points. The benchmark index recorded its first weekly drop in five, erasing all gains since the U.S.-Iran ceasefire announcement earlier this month. The midcap FTSE 250 .FTMC slipped 0.8%.

Iran’s foreign minister was due in Islamabad on Friday to discuss possible steps to restart U.S.-Iran talks, Pakistani government sources said to Reuters.

Investors remained on edge as crude oil prices stayed above $100 a barrel, with uncertainty lingering over Strait of Hormuz.

The Bank of England's Deputy Governor Sarah Breeden told the BBC on Friday that stock markets around the world are expected to fall as current share prices do not fully reflect the many risks facing the global economy.

Higher oil prices pressured airlines' shares, with Wizz Air WIZZ.L dipping 3.3%.

Heavyweight banks Barclays BARC.L and HSBC HSBA.L fell 0.9% and 1.3% respectively.

Pharma giant AstraZeneca AZN.L slipped 3.7%, and peer GSK GSK.L dropped 2.7%, sending the pharma sector .FTNMX201030 3% lower.

British retail sales rose by 0.7% in March, data showed on Friday. Major retailers Tesco  TSCO.L and Sainsbury  SBRY.L warned this week that persistent Mideast tensions are likely to cloud their earnings outlook.

Retailers stocks .FTNMX404010 rose 0.1%, among the few gainers on the benchmark.

Tech shares .FTUB1010 gained 1%, with Computacenter CCC.L surging 14.5% after the technology and services provider said it would beat annual profit forecasts.

Mondi MNDI.L plunged 11.1%, landing at the bottom of the FTSE 100 after the packaging company flagged rising costs due to the Iran war.

(Reporting by Utkarsh Tushar Hathi; Editing by Diti Pujara and Leroy Leo)

((utkarshtushar.hathi@thomsonreuters.com; 91-9900310515))